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German factory orders rise more than expected
Domestic orders in Germany surged 9.9% in October, driving a 1.5% monthly rise despite a 4.0% decline in foreign demand, Destatis reported.
- On Friday, Destatis said Germany's factory orders rose 1.5 in October, exceeding economists' 0.3 forecast on robust domestic demand.
- Robust home-market demand drove domestic orders expanded 9.9 in October, while foreign orders decreased 4.0% and outside-euro-area demand fell 6.5%.
- The breakdown revealed an 87.1 surge in orders for manufacture of other transport equipment and an 11.9 increase in basic metal, while electrical equipment plunged 16.2%.
- On the year, factory orders dropped 0.7%, but real manufacturing turnover rose 0.3% in October, as Destatis reported.
- For exporters and policymakers, the contrast between stronger monthly activity and weaker foreign demand creates mixed signals, as growth softened from a revised 2.0 in September.
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German Industrial Orders Rise More Than Expected in October
·New York, United States
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In October, orders to German factories increased more than analysts forecast: in the month they grew by 1.5% on a monthly basis, compared with an average estimate of 0.3%. In September...
·Milan, Italy
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Coverage Details
Total News Sources49
Leaning Left3Leaning Right9Center9Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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